2025-05-15T08:35:41-05:00 2024-06-30 363168081 SIKICH LLC 4020 KINROSS LAKES PARKWAY SUITE 300 RICHFIELD OH 44286 990 2023-07-01 340714451 LAUREL SCHOOL LAUR 2164641441 1 LYMAN CIRCLE SHAKER HEIGHTS OH 44122 ANDREA AUSPERK CHIEF FINANCIAL OFFICER 2164641441 2025-05-14 1 0 JILL M BOYLE CPA P01246734 3308646661 2025-05-14 2023 2025-03-06 01:10:19Z ANN V KLOTZ 1 LYMAN CIRCLE SHAKER HEIGHTS OH 44122 80015879 0 X WWW.LAURELSCHOOL.ORG X 1926 OH THE MISSION OF LAUREL SCHOOL IS TO INSPIRE EACH GIRL TO FULFILL HER PROMISE AND TO BETTER THE WORLD. 28 28 329 55 171225 104085 6753953 5363740 16789928 18458395 2354750 2246338 139746 115355 26038377 26183828 4690285 5516418 0 0 14579162 15005099 167689 144000 815278 9098180 8503989 28535316 29169506 -2496939 -2985678 87463834 87357030 20251419 19864180 67212415 67492850 THE MISSION OF LAUREL SCHOOL IS TO INSPIRE EACH GIRL TO FULFILL HER PROMISE AND TO BETTER THE WORLD. 0 0 19435135 5516418 18458395 LAUREL SCHOOL FOUDNED IN 1896, IS A NATIONALLY-RECOGNIZED COLLEGE PREPARATORY, INDEPENDENT DAY SCHOOL FOR GIRLS, KIDERGARTEN THROUGH GRADE 12, WITH COEDUCATIONAL EARLY CHILDHOOD PROGRAM. LAUREL SCHOOL HAS TWO CAMPUSES AFFORDING STUDENTS OPPORTUNITIES TO LEARN IN TRADITIONAL SETTINGS SUCH AS LABS, STUDIOS, AND LIBRARIES, AS WELL AS IN OUR UNIQUE ENVIRONMENTAL CLASSROOMS. THE LYMAN CIRCLE CAMPUS IS HOME TO ALL FOUR ACADEMIC DIVISIONS. THE BUTLER CAMPUS HAS EXTENSIVE ATHLETIC FACILITIES AND OPPORTUNITIES FOR OUTDOOR EDUCATION AND LEADERSHIP-BUILDING PROGRAMS. LAUREL SCHOOL HAS APPROXIMATELY 538 STUDENTS ENROLLED IN 2022-23 AND 578 IN 2023-24. 19435135 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 1 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 67 0 329 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 28 28 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X ANDREA AUSPERK 2164641441 1 LYMAN CIRCLE SHAKER HEIGHTS OH 44122 MEGAN LUM MEHALKO CHAIR 2.00 X X 0 0 0 CAREY JAROS VICE CHAIR 2.00 X X 0 0 0 SUSAN SHONS LURIA SECRETARY 2.00 X X 0 0 0 BETHANY BRYANT TREASURER 2.00 X X 0 0 0 SUSAN OPATRNY ALTHANS DIRECTOR 2.00 X 0 0 0 ZAHRAH AZHAR DIRECTOR 2.00 X 0 0 0 KRISTINE SWAILS BRYAN DIRECTOR 2.00 X 0 0 0 GAUSIA CHOWDHURY DIRECTOR 2.00 X 0 0 0 VINCE COLEY DIRECTOR 2.00 X 0 0 0 MIKE CONWAY DIRECTOR 2.00 X 0 0 0 ALISA S T COWEN DIRECTOR 2.00 X 0 0 0 ANNE R DALTON DIRECTOR 2.00 X 0 0 0 KAREN MCCARTAN DESANTIS DIRECTOR 2.00 X 0 0 0 ERICA LEE MARKUM DENNINGS DIRECTOR 2.00 X 0 0 0 TAYLOR GOODMAN DIRECTOR 2.00 X 0 0 0 APRIL HAWKINS DIRECTOR 2.00 X 0 0 0 MARGARET SCHUMANN IPPOLITO DIRECTOR 2.00 X 0 0 0 KATHLEEN JEAVONS DIRECTOR 2.00 X 0 0 0 MICHAEL ANNE JOHNSON DIRECTOR 2.00 X 0 0 0 AARON KAMAT DIRECTOR 2.00 X 0 0 0 MATTHEW KRUG DIRECTOR 2.00 X 0 0 0 ANITA J LEE DIRECTOR 2.00 X 0 0 0 DAVID MARKOWITZ DIRECTOR 2.00 X 0 0 0 LYNNE SHEFFLER MEGERIAN DIRECTOR 2.00 X 0 0 0 CHAUNDRA KING MONDAY DIRECTOR 2.00 X 0 0 0 BETH SHEELER DIRECTOR 2.00 X 0 0 0 KIM E SIMPSON DIRECTOR 2.00 X 0 0 0 SUSAN SCHULZE TAYLOR DIRECTOR 2.00 X 0 0 0 ANN KLOTZ HEAD OF SCHOOL 40.00 X 547700 0 67878 ANDREA AUSPERK CHIEF FINANCIAL OFFICER 40.00 X 146654 0 25992 HEATHER DALY ASSOCIATE HEAD OF SCHOOL 40.00 X 183892 0 22453 RACHEL HERLEIN ASSOCIATE HEAD OF SCHOOL 40.00 X 148857 0 20249 ALLISON GRANT DIRECTOR OF HUMAN RESOURCES 40.00 X 123055 0 25408 MARY ANN FLETCHER DIRECTOR OF FACILITIES 40.00 X 110407 0 19032 MEGAN WEISKOPF DIRECTOR OF TEACHING AND LEARNING 40.00 X 105274 0 14766 ANDREW CRUSE DIRECTOR OF COLLEGE GUIDANCE 40.00 X 102651 0 9041 1468490 0 204819 8 0 1 0 THE ALBERT M HIGHLEY COMPANY 3636 EUCLID AVENUE CLEVELAND OH 44115 CONSTRUCTION 1502428 AVI FOODSYSTEMS 2590 ELM ROAD NE WARREN OH 44483 FOOD SERVICE 921155 KBF CLEANING SERVICE LLC 3683 RIEDHAM ROAD SHAKER HEIGHTS OH 44120 JANITORIAL 472056 PRECIOUS CARGO TRANSPORTATION INC 15050 CROSS CREEK PARKWAY NEWBURY OH 44065 TRANSPORTATION 242749 WARREN ROOFING & INSULATING CO 7015 KRICK ROAD WALTON HILLS OH 44146 CONSTRUCTION 234270 13 600441 4763299 264874 5363740 TUITION AND FEES 611600 17270109 17270109 AUXILIARY SERVICES 900099 910008 910008 OTHER OPERATION REVENUE 900099 278278 278278 18458395 1579905 171225 1408680 115355 0 115355 115355 115355 54498484 53832051 666433 666433 666433 26183828 18458395 171225 2190468 5516418 5516418 815198 516736 266803 31659 10222527 6571108 3392826 258593 395464 250676 129430 15358 2725486 1727624 892015 105847 846424 536529 277023 32872 84922 84922 144000 144000 290847 290847 289958 289946 12 314133 10091 304042 265440 6977 242316 16147 409354 259480 133976 15898 810099 242093 554171 13835 301820 91693 210127 123558 11410 109474 2674 1307659 828896 427979 50784 974081 617448 318804 37829 219135 138905 71720 8510 SCHOOL PROGRAM EXPENSES 947598 823061 90157 34380 FOOD SERVICE 887523 887523 OUTSIDE SERVICES 852725 211441 632919 8365 MISC 276713 142788 111416 22509 148424 44238 88180 16006 29169506 19435135 8919093 815278 1212876 1105603 818464 2755792 741793 1361687 178876 116258 637279 964440 57720576 32991372 23981134 24729204 45627363 42345407 13438634 13113611 827415 865028 87463834 87357030 2206502 2057156 1455711 1431815 15547725 15646171 1041481 729038 20251419 19864180 X 24509907 24572999 42702508 42919851 67212415 67492850 87463834 87357030 X -2985678 2916057 350056 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 49138272 4652192 4294264 6807377 51277351 51385320 911239 3408974 6567261 49138272 58972098 351082 -5082483 4097709 51385320 47994749 351082 15472713 4846446 58972098 50249993 259755 -11218 2503781 47994749 0.32770 0.23050 0.44180 0 0 2986819 2986819 50087363 29430597 20656766 4054046 3560775 493271 592348 592348 24729204 LIMITED PARTNERSHIPS 13113611 F 13113611 INTEREST RATE SWAP LIABILITY 729038 729038 X 23292620 2916057 2916057 20376563 290847 5516418 5807265 26183828 23362241 0 23362241 290847 5516418 5807265 29169506 PART V, LINE 4: INTENDED USE OF ENDOWMENT FUNDS - DISTRIBUTIONS FROM ENDOWMENT FUNDS ARE SPENT IN COMPLIANCE WITH THE DONOR'S RESTRICTIONS APPLICABLE TO THE FUNDS BEING DISTRIBUTED. ANNUAL DISTRIBUTIONS FROM ENDOWMENT FUNDS ARE DETERMINED USING A MIXED SPENDING RULE OF 80 PERCENT OF THE PRIOR YEAR SPENDING AND 20 PERCENT OF THE 5 PERCENT SPENDING RATE TIMES THE ENDOWMENT MARKET VALUE. ALL EXPENDITURES FROM THE ENDOWMENT FUNDS ARE USED TO FURTHER THE EDUCATIONAL PURPOSES OF THE SCHOOL. PART X, LINE 2: THE SCHOOL IS A NONPROFIT ORGANIZATION THAT IS EXEMPT FROM FEDERAL INCOME TAXES UNDER THE CURRENT PROVISIONS OF THE INTERNAL REVENUE CODE, SECTION 501(C)(3). THEREFORE, NO PROVISION FOR FEDERAL AND STATE INCOME TAXES HAS BEEN RECORDED IN THE STATEMENTS. THE SCHOOL IS NOT CLASSIFIED AS A PRIVATE FOUNDATION. THE SCHOOL FOLLOWS GUIDANCE ISSUE BY THE FASB ON ACCOUNTING FOR INCOME TAXES AND HAS EVALUATED ITS TAX POSITIONS, EXPIRING STATUTES OF LIMITATIONS, AUDITS, PROPOSED SETTLEMENTS, CHANGES IN TAX LAW AND NEW AUTHORITATIVE RULINGS, AND BELIEVES THAT NO PROVISION FOR INCOME TAXES IS NECESSARY TO COVER ANY UNCERTAIN TAX PROVISIONS. THE SCHOOL'S RETURN FOR TAX YEARS 2020 AND LATER REMAIN SUBJECT TO EXAMINATION BY TAXING AUTHORITIES. PART XI, LINE 4B - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID 5,516,418. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID 5,516,418. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 ALL FORMS OF ADVERTISING HAVE A CALL TO ACTION LEADING PEOPLE TO OUR WEBSITE WHERE THE INFORMATION IS STATED. ADDITIONALLY, ONCE A FAMILY INQUIRES AND RECEIVES AN ADMISSIONS PACKET, THEY RECEIVE THE VIEWBOOK THAT ALSO INCLUDES THE E&I STATEMENT. SCHEDULE E, PART I, LINE 6 ASSISTANCE FROM GOVERNMENTAL AGENCY - LAUREL SCHOOL RECEIVES FUNDING FROM THE STATE OF OHIO FOR SALARIES AND PROFESSIONAL FEES AND TO REIMBURSE THE SCHOOL FOR STATE-MANDATED SERVICES. X X X X 1 S & J ALLEN LLC 99 FOXHALL DRIVE CHAGRIN FALLS OH 44022 DEVELOPMENT CONSULTING 0 3370875 144000 3226875 3370875 144000 3226875 1 SCHOLARSHIPS (ASSISTANCE/AID) 284 5419887 PART I, LINE 2: MONITORING USE OF GRANT FUNDS - THE SCHOOL CREDITS THE BILLING ACCOUNT OF EACH RECIPIENT FOR THE AMOUNT OF THE SCHOLARSHIP IN THIS WAY, THE SCHOOL IS ASSURED THAT THE SCHOLARSHIPS ARE USED FOR THE INTENDED PURPOSE OF DEFRAYING EDUCATIONAL EXPENSES FOR EACH RECIPIENT. X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 ANN KLOTZ HEAD OF SCHOOL 482713 0 6000 0 58987 0 41092 0 26786 0 615578 0 0 0 HEATHER DALY ASSOCIATE HEAD OF SCHOOL 146343 0 0 0 37549 0 3844 0 18609 0 206345 0 0 0 ANDREA AUSPERK CHIEF FINANCIAL OFFICER 146604 0 0 0 50 0 7564 0 18428 0 172646 0 0 0 RACHEL HERLEIN ASSOCIATE HEAD OF SCHOOL 148857 0 0 0 0 0 3844 0 16405 0 169106 0 0 0 PART I, LINE 1A BENEFITS PROVIDED TO CERTAIN INDIVIDUALS - THE SCHOOL PROVIDES A HOUSE TO THE HEAD OF SCHOOL, ANN KLOTZ, BECAUSE SHE CONDUCTS A SUBSTANTIAL AMOUNT OF SCHOOL BUSINESS IN HER RESIDENCE. THE HOUSE IS ON THE SCHOOL'S SHAKER HEIGHTS CAMPUS AND BECAUSE OF THE SUBSTANTIAL BUSINESS USE OF THE RESIDENCE, THE SCHOOL DOES NOT TREAT THIS BENEFIT AS TAXABLE TO MS. KLOTZ. A CLEVELAND-CUYAHOGA COUNTY PORT AUTHORITY 341029691 2024-03-21 16000000 CURRENT REFUNDING OF BONDS TO CONSTRUCT EDUCATIONAL FACILITIES 0 0 0 A 16000000 1600000 2011 1 0 1 1 A 0 0 1 1 0 0.00000 0.00000 0 0 0 A 0 0 1 0 1 1 PIPER JAFFREY FINANCIAL PRODUCTS 14.000000000000 0 0 0 0 1 A 1 X 17 264874 FMV 0 1 0 FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW - THE BOARD OF TRUSTEES HAS DELEGATED THE RESPONSIBILITY TO REVIEW FORM 990 PRIOR TO ITS FILING TO THE AUDIT/FINANCE COMMITTEE. THE INDEPENDENT ACCOUNTING FIRM ASSISTS WITH THIS REVIEW. DISTRIBUTION OF FORM 990 TO GOVERNING BODY - THE SCHOOL DISTRIBUTES A COPY OF FORM 990 TO ALL BOARD MEMBERS BUT REDACTS THE NAMES AND ADDRESSES OF DONORS FROM SCHEDULE B. THE SCHOOL HAS CHOSEN NOT TO DISCLOSE THE IDENTITY OF ITS DONORS, PARTICULARLY IN CASES IN WHICH THE DONOR WANTS TO REMAIN ANONYMOUS. FORM 990, PART VI, SECTION B, LINE 12C MONITORING AND ENFORCEMENT OF CONFLICT POLICY - CONFLICTS ARE IDENTIFIED VIA THE ANNUAL DISCLOSURE DOCUMENTS. SUCH CONFLICTS ARE SHARED WITH THE BOARD OF TRUSTEES AS APPROPRIATE. WHEN A CONFLICT ARISES, THE AFFECTED INDIVIDUAL IS NOT PERMITTED TO PARTICIPATE IN THE DISCUSSIONS OR TO VOTE ON THE MATTER. THE APPROVAL OR REJECTION OF THE TRANSACTION IS MADE BY PERSON WHO ARE INDEPENDENT OF THE INDIVIDUAL WITH THE CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION REVIEW AND APPROVAL - THE COMPENSATION OF THE HEAD OF THE SCHOOL IS REVIEWED AND APPROVED BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES. THE COMMITTEE USES COMPARABILITY DATA IN THEIR DELIBERATIONS AND DOCUMENTS THEIR DECISION-MAKING PROCESS IN THE MINUTES. THE BOARD MEMBERS MAKING THE COMPENSATION DECISION ARE INDEPENDENT OF THE HEAD OF THE SCHOOL. FORM 990, PART VI, SECTION C, LINE 19 AVAILABILITY OF DOCUMENTS - THE SCHOOL MAKES ITS GOVERNING DOCUMENTS, FINANCIAL STATEMENTS, OR CONFLICT POLICY AVAILABLE TO THE GENERAL PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN BENEFICIAL INTEREST IN PERPETUAL TRUST 37,613. CHANGE IN RATE SWAP LIABILITIES 312,443.